Bitcoin Forum
October 16, 2018, 01:43:38 PM *
News: Make sure you are not using versions of Bitcoin Core other than 0.17.0 [Torrent], 0.16.3, 0.15.2, or 0.14.3. More info.
 
   Home   Help Search Donate Login Register  
Pages: [1] 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 »
  Print  
Author Topic: Best way to store Bitcoin safely ?  (Read 2271 times)
litecoinricky
Jr. Member
*
Offline Offline

Activity: 166
Merit: 3

I need a break!


View Profile
May 02, 2018, 11:50:03 PM
 #1

Hi guys
I know this might sound like a newbie question, but Ive not had enough bitcoin to think about putting any in cold storage since Cryptsy ripped me off when they went down Sad
But just lately ive built myself back up a bit, and just need to check my understanding of a creating a cold wallet is correct ? This is what I think was the best way but im not sure Huh

1. Download latest BTC client
2. move to a pc not connected to the internet.
3. Create an address on that PC without internet.
4. Send fund to address created on PC with no internet access.
5. Save keys in safe place Smiley

Also I was wondering if there are any 100% safe third party wallets that enable quick access if needed ?

Sorry if my question has been covered many times, but I just don't want to make a big mistake.

Thanks
Rick

I'll take any freebies on offer Smiley
You get merit points when someone likes your post enough to give you some. And for every 2 merit points you receive, you can send 1 merit point to someone else!
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1539697418
Hero Member
*
Offline Offline

Posts: 1539697418

View Profile Personal Message (Offline)

Ignore
1539697418
Reply with quote  #2

1539697418
Report to moderator
alenahype
Newbie
*
Offline Offline

Activity: 210
Merit: 0


View Profile WWW
May 02, 2018, 11:54:07 PM
 #2

Create your wallet and save the file and equate it in an on-site location, but the metamask is also a security-relevant way
litecoinricky
Jr. Member
*
Offline Offline

Activity: 166
Merit: 3

I need a break!


View Profile
May 03, 2018, 12:07:19 AM
 #3

Create your wallet and save the file and equate it in an on-site location, but the metamask is also a security-relevant way

Equate to an on-site location ? Im a bit thick im not sure what you mean lol
Ive looked at metamask before but it was a chrome only addon is this still case ?

I'll take any freebies on offer Smiley
mast3rm1nd
Full Member
***
Offline Offline

Activity: 322
Merit: 100



View Profile
May 03, 2018, 12:14:38 AM
 #4

how about keeping multiple amounts at different wallets ?? it not what is meant by " don't keep all of your eggs in one basket" but you can think of it as a twisted way to apply this saying, you reduce the risk this way don't you think ??

FANCHAIN  (by SportsCastr) [FORBES]  Backed by Former NBA Commissioner  DAVID STERN
ANN Thread Telegram Twitter Whitepaper
NOW LIVE!
Pursuer
Legendary
*
Offline Offline

Activity: 1288
Merit: 1086


Where is my ring of blades...


View Profile
May 03, 2018, 05:58:37 AM
 #5

you basically want a cold storage and to be safe you have to first learn advantages and disadvantages of each method and then learn how to use them in the safest way possible.
for example one of the popular methods is paper wallet, for that you don't really need a separate PC, you can always use a live Linux on a DVD with your internet disconnected and you can use a tool like bitaddress.org source code or any other bitcoin wallet that allows you to export your private keys. then print it on a paper but remember to laminate the paper so that it can last longer.
the disadvantage of this method is that spending these funds is time consuming so it is best used for long term storage that you don't want to touch often.

the other popular method is using a hardware wallet but for that you have to buy one which is going to cost you but you can be safer than using a hot wallet but at the same time you can continue using the funds you have in it as often as you like.

Ravenangel
Member
**
Offline Offline

Activity: 322
Merit: 10


View Profile
May 03, 2018, 06:21:18 AM
 #6

 There are quit a number of good ways to store your Bitcoins but one thing that you must emphasize on is the security of your coins,this should always be given priority at all the time. we all have preferences when it comes to the choice of wallet we use. some will settle for web based  MEW because of the rapid transaction speed and efficiency, Bu for the sake of proper security, I'd settle for Hardware wallets which are not as prone to hacking as Web base wallets. They store your crypto offline making it impossible for a stranger to access it.

█                        ripaex                          █
Hybrid-decentralized exchange
FACEBOOK  ▶  TWITTER  ▶  TELEGRAM  ▶  SLACK  ▶  BLOG
Svafnir74
Newbie
*
Offline Offline

Activity: 140
Merit: 0


View Profile
May 03, 2018, 07:33:44 AM
 #7

I want to recommend you a good, reliable wallet for storing bitcoins. I myself have been using this purse. It's called Exodus. The wallet is very convenient, has a beautiful interface. I really like him. Try it, you may like it too.
jawaher
Newbie
*
Offline Offline

Activity: 65
Merit: 0


View Profile
May 03, 2018, 08:55:01 AM
 #8

The best way to store Bitcoins is to keep them in a hardware wallet or a paper wallet. online wallets are vulnerable always and have been hacked so many times in history.
So, what I suggest is that keep your BTC in a hardware wallet.
Here are some trusted hardware wallet you might be interested in.
https://en.bitcoin.it/wiki/Hardware_wallet#Ledger_Nano_-_USB_Smartcard_Hardware_Wallet
https://en.bitcoin.it/wiki/Hardware_wallet#Swiss_Bank_in_Your_Pocket_-_Hardware_wallet
https://en.bitcoin.it/wiki/Hardware_wallet#KeepKey:_Your_Private_Bitcoin_Vault
https://en.bitcoin.it/wiki/Hardware_wallet#BitLox_Bitcoin_Hardware_Wallet

And there are many more.
Before you make a choice, always do your homework and research. To deal with Bitcoins always carries risks.
colekrypto33
Newbie
*
Offline Offline

Activity: 2
Merit: 0


View Profile
May 03, 2018, 09:22:08 AM
 #9

I love Trezor because it is a cold storage method that greatly reduces cybersecurity risks and i have not experienced any problems with it.
orangy
Newbie
*
Offline Offline

Activity: 89
Merit: 0


View Profile
May 03, 2018, 09:26:11 AM
 #10

Hi guys
I know this might sound like a newbie question, but Ive not had enough bitcoin to think about putting any in cold storage since Cryptsy ripped me off when they went down Sad
But just lately ive built myself back up a bit, and just need to check my understanding of a creating a cold wallet is correct ? This is what I think was the best way but im not sure Huh

1. Download latest BTC client
2. move to a pc not connected to the internet.
3. Create an address on that PC without internet.
4. Send fund to address created on PC with no internet access.
5. Save keys in safe place Smiley

Also I was wondering if there are any 100% safe third party wallets that enable quick access if needed ?

Sorry if my question has been covered many times, but I just don't want to make a big mistake.

Thanks
Rick
After the cold private key is imported into the online wallet software, the cold wallet can be used as a hot wallet, which is convenient, safe, and irreversible.
eternalgloom
Legendary
*
Offline Offline

Activity: 1372
Merit: 1088


Crypto-Games.net: Multiple coins, multiple games


View Profile WWW
May 03, 2018, 09:32:40 AM
 #11

I think this guide from the Bitcoin wiki is still the most extensive one for setting up a secure cold storage wallet:
https://en.bitcoin.it/wiki/How_to_set_up_a_secure_offline_savings_wallet

This guide does require you to run an Ubuntu live CD (live USB is also an option). Keep in mind that this is probably one of the most secure ways to set up a cold storage wallet by yourself.
You can change some steps in the process, but it will result in a less secure solution.


▄▄▄████████▄▄▄
▄██████████████████▄
▄██████████████████████▄
██████████████████████████
████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
████████████████████████████
██████████████████████████
▀██████████████████████▀
▀██████████████████▀
▀▀▀████████▀▀▀
   ███████
██████████
██████████
██████████
██████████
██████████
██████████
██████████
██████████
██████████
██████████
██████████
███████
BTC  ◉PLAY  ◉XMR  ◉DOGE  ◉BCH  ◉STRAT  ◉ETH  ◉GAS  ◉LTC  ◉DASH  ◉PPC
     ▄▄██████████████▄▄
  ▄██████████████████████▄        █████
▄██████████████████████████▄      █████
████ ▄▄▄▄▄ ▄▄▄▄▄▄ ▄▄▄▄▄ ████     ▄██▀
████ █████ ██████ █████ ████    ▄██▀
████ █████ ██████ █████ ████    ██▀
████ █████ ██████ █████ ████    ██
████ ▀▀▀▀▀ ▀▀▀▀▀▀ ▀▀▀▀▀ ████ ▄██████▄
████████████████████████████ ████████
███████▀            ▀███████ ▀██████▀
█████▀                ▀█████
▀██████████████████████████▀
  ▀▀████████████████████▀▀ 
✔️DICE           
✔️BLACKJACK
✔️PLINKO
✔️VIDEO POKER
✔️ROULETTE     
✔️LOTTO
mindrust
Legendary
*
Offline Offline

Activity: 1204
Merit: 1159


View Profile WWW
May 03, 2018, 09:40:22 AM
 #12

5. Save keys in safe place Smiley

Also I was wondering if there are any 100% safe third party wallets that enable quick access if needed ?

For the 5th step, you'll probably want to have your backups in various places. One to carry with you, one in home, one in the garden, one in some other random place, one in your car.

Except, you'll have to modify the seed/private key so if it gets stolen the thief won't be able to decrypt it  and steal whats inside.

I know many stories about papers got burned, stolen and similar. Make many backups, make them as only you can safely use.

For a quick access, all you need is an electrum wallet...
colekrypto33
Newbie
*
Offline Offline

Activity: 2
Merit: 0


View Profile
May 03, 2018, 09:50:10 AM
 #13

Trezor is a great offline wallet
Bhalibad
Newbie
*
Offline Offline

Activity: 196
Merit: 0


View Profile
May 03, 2018, 10:01:26 AM
 #14

Trezor is a great offline wallet



We don't want to trust any people or we don't let others about our Bitcoin we keep it safety.We put it in a hard wallet that are not connected to the internet.
Donnie_28
Full Member
***
Online Online

Activity: 392
Merit: 100



View Profile
May 03, 2018, 12:29:04 PM
 #15

The best way to store bitcoin where you can download the best wallet. I prefer to use coins. pH so that you can store bitcoin safely and secured. Always keep in the safe place the private key so that know one can hack your wallets.

angelakrasnova
Member
**
Offline Offline

Activity: 252
Merit: 10


View Profile
May 03, 2018, 02:04:45 PM
 #16

There is a huge amount of safe storage of coins, as one of them has already said is cold storage, but I will tell you in other words, it is impossible to crack the wallet, but to crack the place where you keep the key to the wallet completely, so take care of your key and not the wallet)

▬▬■ ■ ■▬▬ The Future of Work. Decentralized. ▬▬■ ■ ■▬▬
Whitepaper﹞﹝ANN THREAD﹞﹝TELEGRAM﹞﹝FACEBOOK﹞﹝TWITTER﹞﹝YOUTUBE
BrewMaster
Hero Member
*****
Offline Offline

Activity: 966
Merit: 632


There is trouble abrewing


View Profile
May 03, 2018, 02:19:10 PM
 #17

Trezor is a great offline wallet

it is called "hardware" wallet which is very different from an "offline" wallet.
a hardware wallet is basically something like a flash disk that you store your private keys (your wallet) in it and it is designed in a way to be secure and not leak your keys out.
but an offline wallet is any wallet that is used offline. it can be a paper wallet which is private keys on a paper or a desktop wallet that is installed on an offline computer.

bellakrstna
Newbie
*
Offline Offline

Activity: 154
Merit: 0


View Profile
May 03, 2018, 03:03:02 PM
 #18

i guess the best way to store bitcoin safely is stored it on a hard wallet.
but you need money to buy hard wallet, it is not free.
Dudeperfect
Hero Member
*****
Offline Offline

Activity: 994
Merit: 531

★YoBit.Net★ 350+ Coins Exchange & Dice


View Profile WWW
May 03, 2018, 04:42:16 PM
 #19

I am a great fan of the hardware wallets when it comes to the safety point of view. There are multiple ways to store Bitcoins in offline wallets including paper wallet, hardware wallet etc. You can download the reputed paper wallet generator from GitHub and move it to any offline PC and generate paper wallets to store your funds offline. Alternatively, hardware wallet is another way which is more flexible to use.

litecoinricky
Jr. Member
*
Offline Offline

Activity: 166
Merit: 3

I need a break!


View Profile
May 08, 2018, 12:15:15 AM
 #20

Hi again
I just wanted to let you guys that have been recommending the hardware wallets,
I was going to buy the ledger nano s tonight until I read there is security issues with them, Ive just made a post here regarding the Ledger Nano S https://bitcointalk.org/index.php?topic=3630923

I'll take any freebies on offer Smiley
Pages: [1] 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 »
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!